Where: Springfield Ohio. 45505
What: An inherited rental, I've never stepped foot in it. The auditors page says that it is a 3 bedroom but I've been told that it is only a 2 bedroom.
Why: I don't like being an out of state landlord. Also the last tenants TRASHED the place although they were there for years. It's currently "cleaned" out and boarded up to prevent people from breaking in.
Nice things about it: hardwood floors, old sturdy cabinets, new furnace. Cheap taxes. Has been occupied consistently for 5 years. I had rent at $450. Rents in the area are now closer to 500-600. It has had positive cash flow.
Bad things about it: Should get a new roof soon, I patched a leak recently. Neighborhood is not great at all.
What it will need to be rent ready: yard work, paint and cleaning mostly.
My father bought it for $9,000. I've put another $13,000 into it since 2014.
